U.K. Plc was mostly opposed to May’s hard stance on Brexit, which would mean a loss of tariff-free access to the EU’s single market. Even so, when she called a snap election seven weeks ago, business leaders backed her and poured hundreds of thousands of pounds into her Conservative Party campaign as she gambled on securing a bigger majority to strengthen her negotiating hand. Now a weakened May is trying to form a new government with the backing of Northern Ireland’s Democratic Unionist Party after the Tories fell short of seats to rule alone.
May's Ministers Plot Softer Brexit to Keep U.K. in Single Market
After the shock comes the silver lining. Most business leaders are dismayed at the political chaos unleashed by the U.K. election, which left a damaged Prime Minister Theresa May trying to forge a shaky coalition government. But some are quietly hoping that it may lead to softer terms for the country’s exit from the European Union.
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